Georgetown has fired coach John Thompson III, the school announced Thursday.
Thompson spent the past 13 seasons in charge of the Hoyas, going 278-151 with eight NCAA tournament appearances. The Hoyas finished 14-18 this season, including a 5-13 mark in Big East play.
"It is with profound regret and deep appreciation that I informed John Thompson III this morning that the university will no longer be retaining his services as our head men's basketball coach," university president John J. DeGioia said in a statement.
"For 13 years, he has been one of the elite coaches in college basketball. His performance as a coach has been exceptional, and he has served our community with remarkable distinction and integrity, sustaining our commitment to the academic performance of our students and providing them with the very best preparation for their lives beyond the Hilltop."
Since Georgetown's season ended, L.J. Peak declared for the NBA draft and top recruit Tremont Waters requested a release from his letter of intent.
Georgetown did not make the NCAA tournament in three of the past four seasons.
"I am honored to have been the head coach at Georgetown University for the past 13 years, where I had the privilege of coaching and mentoring outstanding student-athletes," Thompson said in a release provided by his attorney, David Falk. "I am proud of what my players have accomplished on the court and how they are thriving since leaving Georgetown.
"... I am grateful to the fans of Georgetown for their tremendous support. Georgetown basketball has been a part of my life since 1972, which makes this moment even more impactful, but I look forward to my next chapter."
The search for a replacement will be led by former NFL commissioner Paul Tagliabue, vice chair of Georgetown's board of directors, and athletic director Lee Reed.
Orlando Magic forward Jeff Green, arguably one of the best players to play under Thompson, was not happy to see his former coach let go.
"I'm not happy with the firing at all. I'm fully behind coach and forever support him. Where ever he goes I go. He helped me get to the NBA and he will continue to do that with kids. Georgetown made the wrong decision."
The Hoyas reached the Final Four under Thompson in 2007, but failed to make it out of the first weekend in their next six tournament appearances, losing to lower-seeded teams all six times.
"Decisions like this are not easy to make and are not made without a thorough process," athletic director Lee Reed said in a statement. "... While we all recognize John's tremendous achievements as head coach at Georgetown, what I value equally about him are his high level of character and the integrity with which he guided our program."
Thompson -- son of legendary Hoyas coach John Thompson Jr. -- was the head coach at Princeton for four seasons before making the move to Georgetown to replace Craig Esherick. Thompson led Princeton to at least a share of three Ivy League titles and two NCAA tournament appearances.
Georgetown's new on-campus practice facility is named after Thompson's father.
"Our tradition of excellence as a university will forever be inextricably linked with John and his family," DeGioia said. "We are committed to taking the necessary steps to strengthen our program and maintaining the highest levels of academic integrity and national competitiveness."
John Thompson Jr., a member of the Naismith Memorial Basketball Hall of Fame, retired after the 1998-99 season with a 596-239 record in 27 seasons at Georgetown. He reached the NCAA tournament 20 times with the Hoyas, including winning the 1984 national championship.
Information from ESPN's Britt McHenry and The Associated Press was used in this report.